West Midlands Pension Fund has bought an office block in Leeds for £26m. The fund has bought the fully-occupied 5,700m2 City Point building, and will receive around £1.6m in rental income. The building was sold by UK real estate investment trust RDI.
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Conrad Hall: a central/local tension is the cause of the financial crisis – not funding
The local government financial crisis has not been caused by a lack of funding: that’s just a symptom of the inherent conflict of having independent local authorities within a highly centralised state, argues Conrad Hall.
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